SE Asia Stocks-Indonesia sets new high; Thai stocks fall to 2-week lows

Wed Feb 27, 2013 10:43am GMT

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BANGKOK, Feb 27 (Reuters) - Indonesia's benchmark stock
index rallied to a record closing high on Wednesday thanks to
solid gains in large market caps such as PT Telekomunikasi
Indonesia and as upbeat Standard & Poor's report
lifted appetite for banking shares.
    Jakarta's Composite Index rose 1.14 percent, the
biggest gain in more than five weeks, to 4,716.42, above
Monday's record close of 4,696.11. Shares in Telkom Indonesia,
the most actively traded by turnover, jumped 3.1 percent.
    Banking shares were in favour, led by a 2.9 percent gain in
Bank Rakyat Indonesia, with Standard & Poor's
expecting Indonesian banks to maintain strong profitability,
high loan growth, and sound capitalisation this
year. 
    Others in the region came off day's highs, with late selling
sending Thai stocks to two-week lows. The Philippines
 edged down 0.22 percent to 6,616.27, extending its loss
for a second session after Monday's record close of 6,721.33.
    The region saw mixed foreign flows on the day. According to
traders, Indonesia saw inflows of 813 billion rupiah ($83.75
million) on the day while the Malaysian bourse reported foreign
buying of 125 million ringgit ($40.30 million).
   The Thai stock market saw foreign selling of 204 million baht
($6.84 million), stock exchange data showed.
    Chang Chiou Yi, a regional strategist at CIMB-GK Research,
has an 'overweight' rating on Indonesia and Thailand.
    "Both markets have embarked on an investment upcycle. Stable
politics have helped business decision and there remain
structural positives such as the rising income base, property
demand and upcountry spending demand," Chang said.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   442.46        438.84       +0.82
 Singapore          3261.12       3254.26       +0.21
 Kuala Lumpur       1624.14       1624.18        0.00
 Bangkok            1518.05       1530.32       -0.80
 Jakarta            4716.42       4663.03       +1.14
 Manila             6616.27       6630.67       -0.22
 Ho Chi Minh         465.72        465.05       +0.14
 
 Change on year
 Market             Current     End prev yr    Pct Move
 TR SE Asia Index*   442.46        424.10       +4.33
 Singapore          3261.12       3167.08       +2.97
 Kuala Lumpur       1624.14       1688.95       -3.84
 Bangkok            1518.05       1391.93       +9.06
 Jakarta            4716.42       4316.69       +9.26
 Manila             6616.27       5812.73      +13.82
 Ho Chi Minh         465.72        413.73      +12.57
 
* The Thomson Reuters South East Asia Index               is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
    
 Stock Market Volume (shares)
 Market          Current Volume    Average Volume 30 days
 Singapore         232,619,600          272,313,503      
 Kuala Lumpur      136,268,900          152,121,637      
 
 Bangkok            15,339,183           20,730,332      
 Jakarta         6,016,507,000        4,938,202,467    
 Manila                142,480              119,245    
 Ho Chi Minh            71,439               80,653
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